Japanese blockchain firm bitFlyer allocates shares to local financial institutions
Tokyo-based blockchain company bitFlyer announced that it has allocated new shares to third parties including Sumitomo Mitsui Banking Corporation Group, Mizuho Financial Group, and Dai-ichi Life Insurance Company for the purpose of fundraising. With the newly raised funds from Japan’s top financial institutions, bitFlyer intends to build up its financial base as well as accelerate their efforts in establishing itself in the bitcoin and blockchain space through a strategic partnership with these firms. The blockchain company aims to develop and design core systems that make use of blockchain technology for more industries in the future to realize their management. bitFlyer has provided the technology for viability test run by Sumitomo […]
Amazon Is Set to Rule the Fintech Game: Andreessen Horowitz VC
If any technology company makes a major move into payments and banking, the most obvious candidates are Apple and Google. After all, both have a lot of experience thanks to the Apple Pay and Google Wallet functions, and both have already persuaded hundreds of millions of customers to share their credit card information. But in the long run, it’s likely to be another tech giant, Amazon, that captures the market for Internet payment services, according to Alex Rampell, a general partner at the venture capital firm Andreessen Horowitz. Speaking at the Goldman Sachs Technology conference in San Francisco on Tuesday, Rampell explained that Amazon is more inclined than its rivals […]
PayPal acquires Vancouver-based TIO Networks in $304m deal
PayPal Holdings Inc. (NASDAQ:PYPL) is acquiring Vancouver-based TIO Networks in a deal worth $304 million. The companies announced the definitive sales agreement Tuesday (February 14), which will see PayPal pay $3.35 per share in cash — a 22.6% premium above its 20-trading day average price. TIO Networks chairman and CEO Hamed Shahbazi told Business In Vancouver he was “very excited” his company was becoming a part of the PayPal family. “It’s an incredible company,” he said. “Dan Schulman, the [PayPal] CEO, has a tremendous vision that really aligns well with us and his vision of financial inclusion is one we think gives us an opportunity to really amplify the scale […]
Qumram Voted ‘Most Innovative FinTech’ by Swiss Bankers and Wealth Managers
Qumram, a leading global RegTech firm providing digital compliance and risk management solutions, has been recognized as the ‘Most Innovative FinTech’ at the 4th Annual WealthBriefing Swiss Awards 2017. The awards ceremony, attended by more than 230 members of the Swiss private banking and wealth management community, took place on 9 February 2017. “Qumram drives innovation by removing compliance as a barrier, and leveraging big data collected for compliance to grow revenue,” said Stephen Harris, ClearView Financial Media’s CEO, and Publisher of WealthBriefing, who presented the award alongside Barclays Bank (Suisse) CEO James Buchanan-Michaelson. “These awards truly reflect excellence in wealth management,” said Harris. “The watchwords of the judging process […]
Swiss Fintech Temenos announces proposal to acquire ASX-listed Rubik
Temenos, the software specialist for banking and finance, today confirms that it has entered into a binding Scheme Implementation Deed to acquire Rubik Financial Limited, a leading software provider to the Financial Services sector in Australia, via a Scheme of Arrangement. Founded in 2007, Rubik is a leading Australia–based, Australian Securities Exchange (ASX) listed financial software company providing banking, wealth management and mortgage broking solutions, primarily in Australia, and also internationally across Asia and the Middle East. Rubik has more than 150 employees servicing 930 direct clients and 23,000 end-users in 12 countries. Temenos has a longstanding partnership with Rubik which dates back nearly 10 years. Rubik has successfully used […]
Fintech is driving growth and opportunities in Asia Pacific
According to analysis by KPMG International and CB Insights, US$4.6 billion in venture capital-backed fintech funding went to the Asia-Pacific region at the end of Q3 2016. Much of this investment went to China, driven by high mobile internet adoption rates and a tech savvy-millennial user base. Asian fintech sectors predicted to get VC interest this year include payments, regtech, data & analytics, and mobile. Adoption of mobile money and mobile payments in Asia will see the market encompass a range of demographics, from Chinese millennials with WeChat, to Sri Lankan retirees receiving pensions onto their Dialog eZCash mobile money account. Across Asia, fintech driven by regulatory ‘sandboxes’ are enabling financial institutions […]
BetaSmartz automated investment launches in Asia
BetaSmartz, the B2B automated investment platform for all sizes of investors, from institutional to retail, today announced it had opened offices in Hong Kong. BetaSmartz offers ‘hybrid ‘ digital investment or ‘robo’ advice that combines automated and face-to-face financial advice. Newly appointed Managing Director Asia, Zak Allom, said this model had been well received since its launch in 2015, with several clients now live including two in the U.S. “Robo has been a big buzzword, but for the most part the actual delivery hasn’t been different from the automated financial planning software we’ve been used to since the 90s,” he said. “BetaSmartz is much more than a sexy front end […]
Ho Chi Minh based startup Remitano expands across the globe to make Bitcoin trading safer
Remitano, a Vietnamese platform that helps people trade bitcoin quickly and securely, has expanded its services across the English speaking world and also to China and Cambodia. Formerly only available in Asia, Remitano is making its platform available across the globe. The company is targeting an audience of bitcoin exchangers, investors, and those seeking remittance services, starting with Asian countries – including Vietnam, Malaysia, Cambodia as well as China. “Our new platform will help bring bitcoin to everyone, by means of preventing fraud and scamming among the bitcoin community,” explains CEO and co-founder Dung Huynh. “Bitcoin fraud is a problem that is deterring people from partaking in this […]
